CEOs made 320 times more than what their typical worker earned last year, according to a new report from the Economic Policy Institute (EPI), part of a decades-long trend of rapidly growing compensation for corporate America’s top execs.
Yahoo Finance
August 20, 2020
While these graphs may imply that those in the top quintiles disproportionately benefit from the new Department of Labor Guidance on 401(k) PE access, it’s important to remember that many in the top quintile already have access to private equity since they qualify as “accredited investors.” To be an accredited investor, one must either have net assets of at least $2.5 million, or a gross income for each of the last two financial years of at least $250,000. According to the Economic Policy Institute using data from the Social Security Administration, the top 5 percent of earners make $309,348 annually as of 2018.
The National Review
August 20, 2020
In 2018, a median Hispanic household earned 73 cents for every dollar a median white household earned, according to the Economic Policy Institute. A median Black household earned just 59 cents for every dollar a median white household earned.
KSAT-San Antonio
August 20, 2020
The pay gap between top corporate executives and workers is staggering – in 2019, CEO realized pay increased 14% from 2018 to an average of $21.3 million, a new study by the Economic Policy Institute (EPI) shows.
CNBC
August 20, 2020
These statistics started being discussed in class without any regard for Black students. Often, when Black issues are brought up, teachers forget that Black students are living the reality they are debating. It was never brought up that Black and Brown people make up the majority of the nation’s essential workers — from food and agriculture to commercial and service industries, according to the Economic Policy Institute. This makes them extremely susceptible to COVID-19. In predominantly white schools, Black and brown people are put in a box for white students to pity without giving context to why they are in the box in the first place.
YR Media
August 20, 2020
DON’T FORGET TO JOIN ME THURSDAY — I’ll be hosting a virtual Democratic Convention briefing on Thursday at 1:00 p.m. on what a Biden administration would do with the economy featuring Jared Bernstein, who served as chief economic adviser to Biden in the White House; Rep. Don Beyer (D-Va.), Vice Chair of the Joint Economic Committee; and Heidi Shierholz, senior economist at the Economic Policy Institute and former chief Department of Labor economist under Obama. RSVP here.
Politico
August 20, 2020
CEOs at the top 350 firms in the US were paid $21.3 million on average last year, a 14% increase over the year before, as top executives continue to see their compensation skyrocket, according to a report out Tuesday by the left-leaning Economic Policy Institute.
Fox Business
August 20, 2020
EPI reports that CEO earnings soared in 2019 and, despite the coronavirus recession, are poised to rise again in 2020 as millions of workers are laid off or had hours and pay cut.
Teamsters
August 20, 2020
Robert Reich, the U.S. Secretary of Labor under Bill Clinton, tweeted Tuesday: “Capitalism is off the rails.” That was in reaction to a new report from the Economic Policy Institute (EPI), which found that the average CEO compensation in 2019 at one of America’s top 350 firms was $21.3 million, up by 14% from the year prior—and up 1,167% from 1978. A typical worker at one of these top companies now earns $67,000 per year.
Fast Company
August 20, 2020
The consequences of inaction – additional layoffs and slashed public services – will result in a deeper and more painful downturn. Experts from Moody’s Analytics suggested that without additional aid, state and local budget shortfalls would create a drag on the nation’s recovery; GDP would be reduced by more than three percentage points and more than four million jobs would be lost. Another study from the Economic Policy Institute found that without additional aid, 5.3 million Americans would likely lose their jobs by the end of 2021.
House Committee on the Budget
August 20, 2020